SIAM hails GST cut on EVs from 12 to 5 pc

SIAM hails GST cut on EVs from 12 to 5 pc

Agency News

New Delhi, Jul 27 : The Society of Indian Automobile Manufacturers (SIAM) on Saturday welcomed the government’s decision to reduce the Goods and Service Tax rate on electric vehicles from the present 12 to 5 per cent.

SIAM president Rajan Wadhera said, “Government’s vision of increasing electric mobility in the country has been acknowledged by GST council by significantly reducing GST rate on electric vehicles. We are thankful to the GST council for accepting these recommendations which were proposed by SIAM in our white paper which was released last year to promote the growth of electric vehicles in India.”
To be effective from August 1, the GST council has also announced that tax on EV chargers will be reduced from 18 per cent to 5. The local authorities have also been given GST exemption for hiring of electric buses by local authorities. (UNI)